ITG Targets Emerging Hedge Funds with New OMS, EMS

Yesterday, ITG announced the launch of a new order management system (OMS) and execution management system (EMS) that are purpose built for emerging hedge funds with assets over $100 million.

The OMS, dubbed ITG Position Manager, is a multi-asset, multi-prime, broker-neutral application. Geyer tells Buy-Side Technology that over 500 brokers are on the system and it offers full algorithmic execution capabilities for options, futures and equities.

Geyer says that the tagging functionality of the OMS takes in broker-neutral order flow and delivers it into the Triton Black EMS. "We've figured out how to do that very elegantly, while other OMS applications struggle with that functionality at the hedge fund level," Geyer says.

The Triton Black application was built from the ground up, says McKeon. The OMS and EMS markets are crowded, but McKeon says that these platforms are built on new technology and offer an advantage when it comes to "user ergonomics" with sophisticated hot buttons, screen real estate enhancements and screen linkage.

"Many of our competitors don't have a new platform out there, so with a lot of new technology, we're able to take advantage," McKeon says.

He adds that since it's built on top of ITG's flagship Triton infrastructure, it has connectivity and capacity advantages that are even "over-kill" for hedge funds. Geyer is also quick to point out that this is not a hybrid OEMS; they are independent systems that can be linked if that's what the user desires.

"We're not trying to be a watered down product that has partial functionality," Geyer says. "These are very specific modules that can be taken together or independently."

But even though this is not a single platform, there is a single point of service to support both applications. Since the applications have the same support team, they know it from end to end, McKeon adds.

While Geyer declined to give a specific number for installs, he says that "dozens" are live with either the Position Manager or Triton Black.